floor

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Floor

The area of a stock exchange where active trading occurs. Also the price at which a stop order is activated (when the price drops low enough to activate such an order). In context of interest rates, a level which an interest rate or currency is structured not to go below. In context of OTC interest rate options, a series of interest rate put options, where the buyer of the floor guarantees a minimum interest income

Floor

1. See: Exchange floor.

2. The lowest price or some other limit that can occur. For example, in an adjustable-rate mortgage, the lender will often specify a floor for the interest rate, which means that even though the interest rate on the mortgage changes from time to time, it will never drop below the specified floor. These exist to protect one or both parties to a contract or investment. See also: Ceiling, Collar.

floor

The area of an organized exchange where securities are traded. Customer orders are transferred to the floor, where they are executed by members of the exchange.

floor

Other than the obvious, refers to the bottom of something. Variable-rate mortgages may provide a minimum interest rate,called a floor,even if the rate would otherwise be less if the index dropped. Percentage leases with rent partially based on gross revenues might have a minimal amount,or floor payment.

References in classic literature ?
When you get ready to die then I will die also," she said to the boy lying on the floor beside her chair.
With every pressure of my knee, how the floor creaked
The floor was examined very carefully under the inscription, and, in the earth beneath a stone, or tile, or some fragment of paving, were found the ashes of a paper, mingled with the ashes of a small leathern case or bag.
Receiving no answer to these taunts, he would mount in his wrath to the words 'swindlers' and 'robbers'; and these being ineffectual too, would sometimes go to the extremity of crossing the street, and roaring up at the windows of the second floor, where he knew Mr.
The wash-rooms occupied the whole of the ground floor.
The windows were long, narrow, and pointed, and at so vast a dis- tance from the black oaken floor as to be altogether inaccessible from within.
The rough floor was spread with deep green moss, and over wall and roof grew flowery vines, filling the air with their sweet breath; while above played the clear, soft light, casting rosy shadows on the glittering drops that lay among the fragrant leaves; and beneath the vines stood Violet, casting crumbs to the downy little moles who ran fearlessly about and listened as she sang to them.
In fact, about four o'clock they were all concentrated about the Palais Royal, the courts and ground floors of which were filled with musketeers and Swiss guards, and there awaited the outcome of all this disturbance.
The brick walls, the materials of which were imported from Holland, and the timbers of the mansion, are still as sound as ever; but the floors and other interior parts being greatly decayed, it is contemplated to gut the whole, and build a new house within the ancient frame and brick work.
4 o'clock, by which time one of the best finished houses in the Province had nothing remaining but the bare walls and floors.
Your missis there might like her floors dirted wi' whittaws for what I know.
The police have laid bare the floors, the ceilings, and the masonry of the walls, in every direction.